Budget 2023: Spike in imports; fall in exports
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Imports were around ₹16 lakh crore more than exports in FY22. Even though exports grew by nearly ₹10 lakh crore in the fiscal, imports grew even higher by ₹16 lakh crore. India vastly depends on imported crude oil to meet its energy requirements. Electronic goods and engineering goods are the other major items of imports.
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October 2025
As India’s growth story gains momentum and the number of billionaires rises, the country’s luxury market is seeing a boom like never before, with the taste for luxury moving beyond the metros. From high-end watches and jewellery to lavish residences and luxurious holidays, Indians are splurging like never before. Storied luxury brands are rushing in to satiate this demand, often roping in Indian celebs as ambassadors.